Surge Battery Metals Announces Successful Completion of its Phase 1 Exploration Program on the HN4 Nickel Project located in Northern British Columbia

Rhea-AI Summary

Surge Battery Metals has successfully completed the first phase of its CAD$480,000 geological mapping, soil, and rock sampling survey at the HN4 Nickel Project in British Columbia. Approximately 600 soil and 190 rock samples were collected, targeting known magnetic anomalies with previous nickel values reaching 2631 ppm. The phase one budget was CAD$240,000, with results expected from assays in 4-5 weeks. Following this, a second phase will begin in July utilizing helicopter support for detailed follow-up sampling.

Positive

• Completion of phase one exploration program on HN4 Nickel Project.
• Collection of approximately 600 soil and 190 rock samples.
• Previous grab samples returned up to 2631 ppm (0.26%) Ni, indicating the potential for significant nickel resources.

Negative

• No immediate negative aspects reported.

VANCOUVER, BC / ACCESSWIRE / July 5, 2022 / Surge Battery Metals Inc. (the "Company" or "Surge") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C), Mr. Greg Reimer, President, is pleased to announce that the first stage of a planned CAD$480,000 detailed geological mapping, soil and rock sampling survey on its 80% owned Nickel Project has been completed. Here, the Surge geological team has collected approximately 600 soil and 190 rock samples from the HN4 mineral claim adjoining the southwest portion of the Decar Nickel Project of FPX Nickel Corp.

Once the snow has melted in the higher elevations of the N100 claim block (+21,00 acres) over the next few weeks, the exploration program is planned to continue.

An eight-person exploration team was onsite at HN4 claim group for approximately 17 days, operating out of the Surge exploration field camp using primarily road access to undertake both follow up and reconnaissance soil and rock sampling. The focus of this effort was on the known western magnetic anomaly where previous grab samples have returned up to 2631 ppm (0.26%) Ni. A secondary exploration target to the northeastern magnetic anomaly is partially within the claim group, and previously returned up to 1795 ppm (0.179%) Ni. The third and final exploration target is a defined magnetic low anomaly, which has potential for listwanite hosted gold mineralization and has been identified as structurally important by the Surge geological team.

The budget for this first stage of the 2022 exploration program is approximately CAD$240,000. Samples are being prepared for submission to the assay lab by the end of June, with results expected for ICP analysis in 4-5 weeks and the DTR ("Davis Tube Recovery" is a magnetic separation technique) to follow within another 3-4 weeks post ICP analysis. The second phase of the 2022 summer exploration program will begin starting in July at the Company's nickel exploration project on the N100 block, approximately 45 km north of the HN4 block.

During this second exploration phase, the Surge exploration team will make use of a helicopter to perform a detailed follow-up from the Surge 2021 exploration work which returned elevated DTR nickel values. A small backpack drilling program will be available to obtain shallow samples at these locations.

James Hutter, P. Geo, a qualified person as defined by NI 43-101, is responsible for the technical information contained in this release.

About Surge Battery Metals Inc. surgebatterymetals.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy and Copper in British Columbia and lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

Nevada Lithium Claims

The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Nevada North Lithium Project is located in the Granite Range about 34 line- km southeast of Jackpot, Nevada, about 73 line-km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbridge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance.

Additionally, the Company's' San Emidio Desert Lithium Project, located 60 miles Northeast of Reno in the San Emidio Desert, Washoe County, Nevada covers about 5,525 acres (2,235 Ha). The Company has a Property Option Agreement to earn an undivided 80% interest in 84 association placer claims covering 4,885 acres (1,975 Ha), subject to a 2% NSR, from Lithium Corporation (OTCQB: LTUM). The Company also recently completed a Property Option Agreement to earn an undivided 80% interest 16 minerals claims comprising 640 acres adjoining this property.

The Company owns a 100% interest in 663 ha (1,640 acre) property in the Teels Marsh Playa Mineral County, Nevada. The property is located in an active region for both lithium exploration and production.

Nickel Projects, Northern BC

The Company has a Property Option Agreement to earn an undivided 80% interest in certain mineral claims from Nickel Rock Resources Inc. The Surge Nickel Project (Nickel North Project) consists of two non-contiguous mineral claims groups consisting of 6 mineral claims in the Mount Sidney Williams area (HN4) covering 1863 hectares immediately south of and adjacent to the Decar Project and the Mitchell Range area (N100) covering 8659 hectares, located in Northern British Columbia. Three of the claims are subject to 2% NSR, including the (HN4 claim and the two southernmost claims of the N100 claims).

The exploration stage project is in the Trembleur Lake area of central British Columbia, partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

Caledonia Project, Vancouver Island, BC

The Company has a Property Option Agreement to acquire a 100% interest in 7 mineral claims including the Caledonia, Cascade and Bluebell claims, subject to a NSR between 1-2%. The Caledonia Project claim area lies within a 50-kilometer-long copper belt in the Nanaimo Mining Division on northern Vancouver Island. The claims are host to widespread copper and gold skarn mineralization 7 km north-west of BHP's past producing Island Copper Mine. During its prime operating period the Island Copper mine was Canada's third-largest copper producer. Additionally, our property lies partially adjacent to NorthIsle Copper and Gold currently developing one of the most promising copper gold porphyry deposits in Canada. Northisle recently completed an updated PEA for its 100% owned North Island Project and is advancing towards a pre-feasibility study.

On Behalf of the Board of Directors

"Greg Reimer"

Greg Reimer, President & CEO
778-945-2656

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward‐looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward‐looking. Forward‐looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward‐looking statements.

SOURCE: Surge Battery Metals Inc.

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FAQ

What is the purpose of Surge Battery Metals' exploration program on the HN4 Nickel Project (NILIF)?

The exploration program aims to assess nickel resources through geological mapping and sampling.

What were the results of the recent soil and rock sampling conducted by Surge Battery Metals on the HN4 Nickel Project?

Previous grab samples indicated nickel values up to 2631 ppm (0.26%), and results from the recent sampling will be available in 4-5 weeks.

When will the second phase of the exploration program for the HN4 Nickel Project begin?

The second phase is set to commence in July 2022.

What is the expected timeline for assay results from the recent exploration program?

Results from the assays are anticipated within 4-5 weeks after sample submission.

How much is being invested in the exploration of the HN4 Nickel Project?

The total budget for the planned exploration program is CAD$480,000.